Questions:
1. What are the the positive benefits of the government implementing a maximum price?
2. What are the two different kinds of indirect tax and how do they differ?
3. What are the reasons the government would want to give a subsidy to a product?
4. How does the minimum price implemented by the government create an excess supply?
Summary:
Questions:
1. What are the the positive benefits of the government implementing a maximum price?
2. What are the two different kinds of indirect tax and how do they differ?
3. What are the reasons the government would want to give a subsidy to a product?
4. How does the minimum price implemented by the government create an excess supply?